I do not argue on your points as you're absolutely right on about what you said. Nevertheless, did you notice that in the budget, there's a distribution profile of Rs 120K Crores? This money can not be offset without the printing press working overtime. Not only that, he has made further provisions of loans (which apparently will not be repaid). Who'll pay this money - will it come from the same dhoti or will it be an additional load on our taxpayers? Just get practical. The banks have to balance their books anyway. He wants to charge STT on the commodity markets and other probable derivatives (may be forex, treasuries, CFDs, warrants - whatever etc). The derivatives market doesn't have enough liquidity and if our ?Harvard guy wants to kill it at the budding stage itself with higher taxes (where he's hoping to generate huge revenue), what's the big idea behind it?
What you said is unarguably true. If the situation is like this, do you think we should resort to the measures that'll generate further kind of gyrating inflationary pressures?
